Compare Platinum Health Insurance Plans

What is the Platinum plan?

The Platinum Plan is one of four new categories of health insurance plans created by the Patient Protection and Affordable Care Act (also known as Obamacare). A Platinum Plan is designed to incur the lowest out-of-pocket expenses for enrollees. A typical platinum plan you pays approximately 10% of the costs of covered healthcare services with the insurance company paying the remainder. In comparison, a typical Bronze Plan enrollee pays 40% of covered medical expenses.

Platinum Obamacare Plans

Platinum Plan Out-of-pocket Costs

Since the Platinum Plan covers the most out-of-pocket expenses, it is expected that these plans will typically have the highest premiums when compared to the Bronze, Silver, and Gold plans. However, this is a generalization. It will be important to compare premiums among different insurance companies offering Platinum Plans. Moreover, deductibles and copayments will also differ among Platinum Plans. This is perfectly acceptable as long as the Platinum Plan covers 90% of healthcare expenses for a standard population.

Platinum Plan Benefits

While Platinum Plans share the same essential benefits as offered in Bronze, Silver, and Gold Plans, an insurer has the option to add extra benefits. Additionally, states may require plans to offer other benefits in order to participate in a state exchange.

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